Bibliographic citations
Olazabal, J., (2024). Efecto de la Política Monetaria en el Rendimiento de las empresas peruanas, en el marco de la Teoría Austriaca de los Ciclos Económicos [Trabajo de investigación, Universidad Peruana de Ciencias Aplicadas (UPC)]. http://hdl.handle.net/10757/683922
Olazabal, J., Efecto de la Política Monetaria en el Rendimiento de las empresas peruanas, en el marco de la Teoría Austriaca de los Ciclos Económicos [Trabajo de investigación]. PE: Universidad Peruana de Ciencias Aplicadas (UPC); 2024. http://hdl.handle.net/10757/683922
@misc{renati/1300885,
title = "Efecto de la Política Monetaria en el Rendimiento de las empresas peruanas, en el marco de la Teoría Austriaca de los Ciclos Económicos",
author = "Olazabal Moral, Jareth Joel",
publisher = "Universidad Peruana de Ciencias Aplicadas (UPC)",
year = "2024"
}
This research provides the analysis of the dynamics of the economic performance of groups of companies according to the size of their financial capital in the face of variations in the reference or monetary policy rate. The size of the capital is understood as the measure of the economic capital coming from shareholders, lenders and other financing resources that is immobilized in the company to finance its operations. For the development of the research, we start from the structure of the Economic Value Added (EVA), which is adapted to the concept of the Austrian Theory of Capital (ACT) within the framework of the Austrian Theory of Economic Cycles (TACE or ABCT), which refers to the cycles that can generate distortions in the economic performance of the aforementioned groups of companies, as a result of the erroneous signals of resources in the economy, generated by the central banks when applying monetary policies that alter the reference rates, and therefore those of the market and the economic agents. Regarding the Peruvian case, since 2002 inflationary targets have been used, the main instrument being the reference rate, which is taken into account in the interbank market, and was applied with greater force in the international crisis of 2008 and in the Covid-19 pandemic crisis. Therefore, it is relevant to observe whether the distortions mentioned in the theory were present during these periods.
This item is licensed under a Creative Commons License